AustralianSuper Pty Ltd Grows Position in MercadoLibre, Inc. $MELI

AustralianSuper Pty Ltd raised its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 358.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,716 shares of the company’s stock after purchasing an additional 4,468 shares during the quarter. AustralianSuper Pty Ltd’s holdings in MercadoLibre were worth $14,940,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Key Financial Inc purchased a new stake in MercadoLibre during the first quarter valued at about $25,000. GW&K Investment Management LLC purchased a new stake in MercadoLibre during the first quarter valued at about $25,000. Close Asset Management Ltd lifted its holdings in MercadoLibre by 366.7% during the first quarter. Close Asset Management Ltd now owns 14 shares of the company’s stock valued at $27,000 after purchasing an additional 11 shares during the last quarter. Brooklyn Investment Group lifted its holdings in MercadoLibre by 650.0% during the first quarter. Brooklyn Investment Group now owns 15 shares of the company’s stock valued at $29,000 after purchasing an additional 13 shares during the last quarter. Finally, Twin Tree Management LP purchased a new stake in MercadoLibre during the first quarter valued at about $29,000. 87.62% of the stock is owned by hedge funds and other institutional investors.

MercadoLibre Stock Up 5.6%

MELI stock opened at $2,282.32 on Tuesday. The company has a current ratio of 1.20, a quick ratio of 1.18 and a debt-to-equity ratio of 0.61. The company’s 50 day moving average is $2,314.00 and its 200 day moving average is $2,364.20. The stock has a market cap of $115.71 billion, a price-to-earnings ratio of 56.37, a price-to-earnings-growth ratio of 1.47 and a beta of 1.46. MercadoLibre, Inc. has a 1-year low of $1,646.00 and a 1-year high of $2,645.22.

MercadoLibre (NASDAQ:MELI) last posted its quarterly earnings data on Monday, August 4th. The company reported $10.31 earnings per share for the quarter, missing the consensus estimate of $12.01 by ($1.70). The company had revenue of $6.79 billion during the quarter, compared to the consensus estimate of $6.57 billion. MercadoLibre had a return on equity of 43.06% and a net margin of 8.52%.The firm’s revenue for the quarter was up 33.8% on a year-over-year basis. During the same quarter last year, the company posted $10.48 earnings per share. Sell-side analysts predict that MercadoLibre, Inc. will post 43.96 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on MELI shares. JPMorgan Chase & Co. dropped their price objective on shares of MercadoLibre from $2,700.00 to $2,600.00 and set a “neutral” rating on the stock in a report on Friday, October 3rd. Susquehanna decreased their price target on MercadoLibre from $2,975.00 to $2,900.00 and set a “positive” rating on the stock in a research report on Monday, October 13th. Wedbush set a $2,700.00 price target on MercadoLibre and gave the company an “outperform” rating in a research report on Tuesday, August 5th. Citigroup decreased their price target on MercadoLibre from $2,850.00 to $2,700.00 and set a “buy” rating on the stock in a research report on Thursday, October 9th. Finally, Barclays decreased their price target on MercadoLibre from $3,000.00 to $2,800.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 21st. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $2,799.12.

MercadoLibre Profile

MercadoLibre, Inc operates online commerce platforms in the United States. It operates Mercado Libre Marketplace, an automated online commerce platform that enables businesses, merchants, and individuals to list merchandise and conduct sales and purchases digitally; and Mercado Pago FinTech platform, a financial technology solution platform, which facilitates transactions on and off its marketplaces by providing a mechanism that allows its users to send and receive payments online, as well as allows users to transfer money through their websites or on the apps.